3M may rise to 151.30 - 159.20

Our pivot point stands at 116.1.

Our preference

As long as 116.1 is support look for 151.3.

Alternative scenario

Below 116.1, expect 103.1 and 95.4.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 120.113 and 109.0564).

Supports and resistances

167 **

159.2 *

151.3 **

143.5

127.16 (USD-last)

121.1

116.1 **

103.1 *

95.4 **

Number of asterisks represents the strength of support and resistance levels.